Simply Online Media Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07849157 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 September 2022

for

Simply Online Media Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Directors:

M A Mann

D A Jones

Registered office:

114-120 Northgate Street

Chester

CH1 2HT

Registered number:

07849157 (England and Wales)

Accountants:

Ellis & Co

Chartered Accountants

114-120 Northgate Street

Chester

CH1 2HT

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

15

504

15

504

Current assets

Debtors

6

166,190

126,972

Cash at bank

2,876

14,289

169,066

141,261

Creditors

Amounts falling due within one year

7

228,813

293,499

Net current liabilities

(59,747

)

(152,238

)

Total assets less current liabilities

(59,732

)

(151,734

)

Creditors

Amounts falling due after more than one year

8

135,293

177,670

Net liabilities

(195,025

)

(329,404

)

Capital and reserves

Called up share capital

9

100

100

Retained earnings

(195,125

)

(329,504

)

Shareholders' funds

(195,025

)

(329,404

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 June 2023 and were signed on its behalf by:

D A Jones - Director

1.	Statutory information

Simply Online Media Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	Accounting policies

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period provided that the outcome can be reliably estimated. When the outcome cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Leadbay assets are being amortised evenly over their estimated useful life of two years.

Computer software is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold property improvements

-

Over the term of the lease

Fixtures, fittings, equipment

-

33% on cost

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Operating leases

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

These financial statements are prepared on the going concern basis, on the assumption that the company's lenders will continue to provide financial support to enable the company to meet its liabilities, which exceeded its assets at 30 September 2022.

3.	Employees and directors

The average number of employees during the year was 9 (2021 - 18 ) .

4.	Intangible fixed assets

Leadbay

Computer

assets

software

Totals

£

£

£

Cost

At 1 October 2021

and 30 September 2022

19,999

45,490

65,489

Amortisation

At 1 October 2021

and 30 September 2022

19,999

45,490

65,489

Net book value

At 30 September 2022

-

-

-

At 30 September 2021

-

-

-

5.	Tangible fixed assets

Leasehold

Fixtures,

property

fittings,

improvements

equipment

Totals

£

£

£

Cost

At 1 October 2021

10,783

59,134

69,917

Disposals

(10,783

)

(55,312

)

(66,095

)

At 30 September 2022

-

3,822

3,822

Depreciation

At 1 October 2021

10,783

58,630

69,413

Charge for year

-

489

489

Eliminated on disposal

(10,783

)

(55,312

)

(66,095

)

At 30 September 2022

-

3,807

3,807

Net book value

At 30 September 2022

-

15

15

At 30 September 2021

-

504

504

6.

Debtors: amounts falling due within one year

30/9/22

30/9/21

£

£

Other debtors

166,190

126,972

7.

Creditors: amounts falling due within one year

30/9/22

30/9/21

£

£

Bank loans and overdrafts

47,750

47,250

Trade creditors

114,506

174,172

Taxation and social security

59,929

47,858

Other creditors

6,628

24,219

228,813

293,499

8.

Creditors: amounts falling due after more than one year

30/9/22

30/9/21

£

£

Bank loans

135,293

177,670

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/9/22

30/9/21

value:

£

£

80

A Ordinary

£1

80

80

20

B Ordinary

£1

20

20

100

100

10.	Directors' advances, credits and guarantees

The following advances and credits to directors subsisted during the year ended 30 September 2022 and the period ended 30 September 2021:

30/9/22

30/9/21

£

£

M A Mann

Balance outstanding at start of year

64,432

1,900

Amounts advanced

-

63,000

Amounts repaid

(2,163

)

(468

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

62,269

64,432

D A Jones

Balance outstanding at start of year

56,532

-

Amounts advanced

-

57,000

Amounts repaid

(2,058

)

(468

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

54,474

56,532

The maximum overdrawn balances in the period were £64,432 (M A Mann) and £56,532 (D A Jones). Advances to directors are unsecured, interest-free and repayable on demand.